New Fortress Energy (NASDAQ:NFE - Free Report) had its price objective reduced by Stifel Nicolaus from $16.00 to $14.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.
Several other analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research note on Wednesday, March 12th. Morgan Stanley lowered their price objective on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 4th. Finally, Citigroup reduced their target price on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $13.00.
Read Our Latest Report on NFE
New Fortress Energy Stock Performance
Shares of New Fortress Energy stock traded down $0.16 during trading hours on Tuesday, reaching $5.71. The company had a trading volume of 648,080 shares, compared to its average volume of 4,858,037. The firm has a market cap of $1.56 billion, a PE ratio of 6.26 and a beta of 1.52. New Fortress Energy has a one year low of $4.72 and a one year high of $29.11. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The business has a fifty day simple moving average of $8.51 and a 200 day simple moving average of $10.74.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The firm had revenue of $679.00 million for the quarter, compared to analysts' expectations of $613.24 million. On average, analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.
Insider Transactions at New Fortress Energy
In other news, CFO Christopher S. Guinta acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the acquisition, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 37.10% of the stock is currently owned by insiders.
Institutional Trading of New Fortress Energy
Several hedge funds and other institutional investors have recently bought and sold shares of NFE. JPMorgan Chase & Co. boosted its stake in shares of New Fortress Energy by 2.0% during the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company's stock valued at $730,000 after purchasing an additional 935 shares during the period. US Bancorp DE increased its stake in shares of New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after buying an additional 1,126 shares during the period. Allworth Financial LP raised its holdings in New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after buying an additional 1,962 shares during the last quarter. GAMMA Investing LLC boosted its position in New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after buying an additional 2,370 shares during the period. Finally, Deutsche Bank AG boosted its position in New Fortress Energy by 3.0% during the 4th quarter. Deutsche Bank AG now owns 85,206 shares of the company's stock valued at $1,288,000 after buying an additional 2,463 shares during the period. Hedge funds and other institutional investors own 58.61% of the company's stock.
About New Fortress Energy
(
Get Free Report)
New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.
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